When will the housing market recover
There is a lot of buzz across the re.net about when the housing market will bottom and finally begin to recover. Just as tops and bottoms in the stock market are not announced with bells ringing and fireworks going off, history has shown that we'll only know we reached the bottom long after the fact.
I suggest watching inventory and the Charleston real estate market continues to maintain elevated inventory levels. Because Charleston home sales are not being driven by foreclosures and distressed property sales like other markets around the country, sales levels are currently too sluggish to absorb the excess inventory.
Courtesy of Calculated Risk, here are national charts of sales and inventory.
